Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Frontline plc's latest earnings report for the second quarter of 2024 presents a mixed bag of results influenced both by geopolitical complexities and market-specific challenges, as well as strategic decisions executed by the company.</li><li>Delving into the current performance and potential future scenarios gives us a balanced understanding of where Frontline stands in the volatile tanker market.</li><li>For the second quarter of 2024, Frontline reported daily earnings that, while showing robust figures, slightly tread under the first quarter with VLCCs making around $49,600, Suezmax at $45,600, and LR2/Aframax tanks earning about $53,100 per day.</li></ul>

Frontline plc's latest earnings report for the second quarter of 2024 presents a mixed bag of results influenced both by geopolitical complexities and market-specific challenges, as well as strategic decisions executed by the company.Delving into the current performance and potential future scenarios gives us a balanced understanding of where Frontline stands in the volatile tanker market.For the second quarter of 2024, Frontline reported daily earnings that, while showing robust figures, slightly tread under the first quarter with VLCCs making around $49,600, Suezmax at $45,600, and LR2/Aframax tanks earning about $53,100 per day.

Frontline Ltd.: Fleet Operational Efficiency & Modernization Driving Our Optimism! - Major Drivers

<ul><li>Frontline management reported an impressive Q1 2024 during the earnings call due to the booming security situation in areas such as the Gulf of Aden and the Red Sea, which has influenced the company's decision-making.</li><li>Consequently, all Euronav vessels now sail under Frontline.</li><li>However, the earnings were impacted negatively due to disruptions in the Suez Canal passages.</li></ul>

Frontline management reported an impressive Q1 2024 during the earnings call due to the booming security situation in areas such as the Gulf of Aden and the Red Sea, which has influenced the company's decision-making.Consequently, all Euronav vessels now sail under Frontline.However, the earnings were impacted negatively due to disruptions in the Suez Canal passages.

Frontline Ltd.: Increase In Global Oil Demand & Other Pivotal Growth Drivers

<ul><li>Frontline Ltd had a good financial performance in Q4 2023 even though they didn't witness the aggressive bull market they were hoping for.</li><li>They achieved positive returns on their VLCC fleet, recording $42,300 per day, $45,700 per day on their Suezmax, and $42,900 per day on their LR2/Aframax fleet.</li><li>The strong performance of the Suezmax and LR2 markets led to higher TCNE rates which benefited their year-end earnings.</li></ul>

Frontline Ltd had a good financial performance in Q4 2023 even though they didn't witness the aggressive bull market they were hoping for.They achieved positive returns on their VLCC fleet, recording $42,300 per day, $45,700 per day on their Suezmax, and $42,900 per day on their LR2/Aframax fleet.The strong performance of the Suezmax and LR2 markets led to higher TCNE rates which benefited their year-end earnings.

Frontline Ltd.: Initiation Of Coverage - How Are They Impacted By The Rising Volatility & Firming Trends In The Market? - Major Drivers

Podcast by S&P analysing commodity market trends, Commodities Focus

Commodities Focus

Podcast by S&P analysing commodity market trends

S&P Global Commodity Insights analysis of key news and pricing issues from across the global shipping, natural gas, power, petrochemicals, agriculture, and coal markets.

Thematic (Sector/Industry)

<ul><li>Emerging regulatory changes in the shipping industry, including EU ETS and fuel EU regulations, are driving a shift towards more sustainable practices and alternative fuels.</li><li>Alternative fuels like methanol, ammonia, and hydrogen are expected to play a significant role in the maritime sector, with infrastructure and adoption challenges to overcome.</li><li>Price reporting agencies like Platts are adapting to these regulatory changes by launching new assessments and methodologies to accurately reflect market conditions and provide valuable insights to stakeholders.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Emerging regulatory changes in the shipping industry, including EU ETS and fuel EU regulations, are driving a shift towards more sustainable practices and alternative fuels.Alternative fuels like methanol, ammonia, and hydrogen are expected to play a significant role in the maritime sector, with infrastructure and adoption challenges to overcome.Price reporting agencies like Platts are adapting to these regulatory changes by launching new assessments and methodologies to accurately reflect market conditions and provide valuable insights to stakeholders.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Navigating a new era of shipping environmental regulations

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cosco Shipping Energy Transportation Co. Ltd. (H) / Equity Bottom-Up

Cosco Shipping Energy Transportation Co. Ltd. (H)

<ul>
<li>Speculative liquidation of crude oil positions opens up an opportunity</li>
<li>A seasonally strong period for crude tanker rates coming up</li>
<li>Company option scheme for senior management approved. Strike above current price</li>
</ul>


Speculative liquidation of crude oil positions opens up an opportunity
A seasonally strong period for crude tanker rates coming up
Company option scheme for senior management approved. Strike above current price


Cosco Shipping Energy Transportation - Capitulation in Oil and Related Equities Almost Complete?

Norway

Frontline PLC owns a fleet of very large crude carriers and tankers that transport crude oil and oil products between ports. The Company's vessels are managed by ship management companies. Frontline conducts activities worldwide.

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Frontline (FRO US)

Frontline Ltd.: Fleet Operational Efficiency & Modernization Driving Our Optimism! - Major Drivers

Frontline plc's latest earnings report for the second quarter of 2024 presents a mixed bag of results influenced both by geopolitical complexities...

Baptista Research

Frontline Ltd.: Increase In Global Oil Demand & Other Pivotal Growth Drivers

Frontline management reported an impressive Q1 2024 during the earnings call due to the booming security situation in areas such as the Gulf of...

Baptista Research

Frontline Ltd.: Initiation Of Coverage - How Are They Impacted By The Rising Volatility & Firming Trends In The Market? - Major Drivers

Frontline Ltd had a good financial performance in Q4 2023 even though they didn't witness the aggressive bull market they were hoping for. They...

Baptista Research

Navigating a new era of shipping environmental regulations

Overall, regulatory changes, particularly in the EU, are reshaping the freight market towards a more sustainable future with a focus on reducing...

Commodities Focus

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Frontline Ltd.: Fleet Operational Efficiency & Modernization Driving Our Optimism! - Major Drivers

Frontline plc's latest earnings report for the second quarter of 2024 presents a mixed bag of results influenced both by geopolitical complexities...

Baptista Research

Frontline Ltd.: Increase In Global Oil Demand & Other Pivotal Growth Drivers

Frontline management reported an impressive Q1 2024 during the earnings call due to the booming security situation in areas such as the Gulf of...

Baptista Research

Frontline Ltd.: Initiation Of Coverage - How Are They Impacted By The Rising Volatility & Firming Trends In The Market? - Major Drivers

Frontline Ltd had a good financial performance in Q4 2023 even though they didn't witness the aggressive bull market they were hoping for. They...

Baptista Research

Navigating a new era of shipping environmental regulations

Overall, regulatory changes, particularly in the EU, are reshaping the freight market towards a more sustainable future with a focus on reducing...

Commodities Focus

Cosco Shipping Energy Transportation - Capitulation in Oil and Related Equities Almost Complete?

Although this piece timed the bottom to the day, there is more upside. It is still a laggard as it is "only" up ~40% from a depressed price....

Rikki Malik